Sterling Construction Company, Inc. is the Selected Contractor for a Salt Lake City International Airport Project Valued at A...
December 19 2016 - 4:05PM
Business Wire
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling”
or the "Company”) today announced that its subsidiary, Ralph L.
Wadsworth Construction Company, LLC (“RLW”), was the selected
bidder on the terminal concrete package for the Salt Lake City
International Airport – Terminal Redevelopment Program (“TRP”). The
job consists of all civil and bridge work associated with the
elevated roadway leading up to the terminal, as well as the
concourse, parking structure and gateway buildings. The bridge will
be over 2,000 feet long and entails in excess of 100,000 linear
feet of steel piling, 40,000 square feet of retaining wall, and
125,000 cubic yards of excavation. The project, valued at $66
million, is scheduled to start in March of 2017 and is expected to
be completed in late 2019.
Paul Varello, Sterling’s CEO, commented, “We are very pleased to
have been selected for this project, which supplements our current
Salt Lake City International Airport work and adds to our growing
aviation infrastructure backlog. This award is consistent with our
strategy to pursue adjacent market opportunities, in addition to
our continued focus on our core heavy highway business, in order to
enhance Sterling’s overall profitability and growth
trajectory.”
Sterling is a leading heavy civil construction company that
specializes in the building and reconstruction of transportation
and water infrastructure projects in Texas, Utah, Nevada, Colorado,
Arizona, California, Hawaii, and other states in which there are
construction opportunities. Its transportation infrastructure
projects include highways, roads, bridges, airfields, ports and
light rail. Its water infrastructure projects include water,
wastewater and storm drainage systems.
This press release includes certain statements that fall within
the definition of “forward-looking statements” under the Private
Securities Litigation Reform Act of 1995. Any such statements are
subject to risks and uncertainties, including overall economic and
market conditions, federal, state and local government funding,
competitors’ and customers’ actions, and weather conditions, which
could cause actual results to differ materially from those
anticipated, including those risks identified in the Company’s
filings with the Securities and Exchange Commission. Accordingly,
such statements should be considered in light of these risks. Any
prediction by the Company is only a statement of management’s
belief at the time the prediction is made. There can be no
assurance that any prediction once made will continue thereafter to
reflect management’s belief, and the Company does not undertake to
update publicly its predictions or to make voluntary additional
disclosures of nonpublic information, whether as a result of new
information, future events or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161219006028/en/
Sterling Construction Company, Inc.Jennifer Maxwell,
281-951-3560Director of Investor RelationsorInvestor Relations
Counsel:The Equity Group Inc.Fred Buonocore, CFA,
212-836-9607Kevin Towle, 212-836-9620
Sterling Infrastructure (NASDAQ:STRL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sterling Infrastructure (NASDAQ:STRL)
Historical Stock Chart
From Apr 2023 to Apr 2024